HomeBusinessOxigen Social Mobile Wallet Service Launched In India

Oxigen Social Mobile Wallet Service Launched In India

Oxigen Service, which was launched ten years ago as Payment Solution Provider , has expanded its portfolio keeping in view of widespread use of social networking sites with the proliferation of smartphones in India. Oxigen India Services has launched today India’s first social mobile wallet service, Oxigen Wallet. With this new service, people will now be able to share money with their friends and family over their preferred social networks and messaging platforms like Facebook, WhatsApp, Google+, and Twitter. They will also be able to use their wallet to recharge their mobile phones, pay bills and shop across a large number of online merchants.

Ankur Saxena, President, Technology & Innovation, Oxigen, Krishna Angara, Board Member & Director, Fastacash, Vince Tallent, Chairman & CEO, Fastacash, Pramod Saxena, Founder, MD, Oxigen, Sunil kulkarni, Deputy MD, Oxigen

The Oxigen Wallet service app is currently available on Android and Apple devices and can be downloaded for free from Google Play Store and Apple Store. This app will be available shortly on Windows smartphones and on other platforms. The users now have the option to send money to their friends and family using their favorite social channel, without ever needing the receiver’s bank account details. Along with money, users can also send photos, videos, and audio and text messages to personalize the transfer. In the coming weeks, users will also be able to gift or ask for a mobile recharge.

With Oxogen Wallet, you can recharge your mobile phones, pay for utilites bills and can also transfer money to your friends and dear ones. The limit for sending the money is Rs. 10,000 per month and at a time, you can transfer Rs, 5,000 without the need to provide your id details. However, for transferring the maximum amount of Rs. 50,000 per month and effecting a single transaction of Rs. 25,000/-, you would be required to provide your id details.

Oxigen Services has claimed to process over 2 billion payment transactions exceeding Rs. 20,000 crores in ten years, through small retail, modern retail chains and banking websites and has revolutionised money transfer services for the unbanked population through its connect with National Payment Corporation of India (NPCI). Oxigen serves several hundred million mobile customers at retail, processing nearly half a billion transactions annually, has already acquired 1.5 million mobile wallet accounts, clocking close to 1 million transactions a month. Ranked number 1, on NPCI’s mobile banking platform IMPS, facilitating Instant Money Transfer across 60+ banks in India,Oxigen has introduced the social mobile wallet service to leverage the social connect to India’s 900 million mobile users and 100 million Facebook accounts.

The salient feature of Oxigen Wallet service is that it is RBI licensed and comes with built in multiple layers of security features.This service is bank and operator agnostic; which means that everyone on a mobile irrespective of telecom operator can download the app and use the Oxigen Wallet. A consumer can also easily send money to a non-wallet user by simply selecting the receiver from their social network, email or phone list.

Speaking at the launch event,  Pramod Saxena, Founder, Chairman & Managing Director of Oxigen Services (India) Pvt. Limited, said,” Merging payments with social and mobile will change the way people pay for their everyday needs. We will continue to evolve the service by adding more products & features, thereby creating an ecosystem for payments where you will no longer need multiple mobile apps for payments of different services. In other words, a single mobile app will meet all your payment needs and set money free, in its true senses.”


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